Wintrust Business Credit Announces Closing of $15M ABL Line of Credit to Aerospace Distribution Business

Wintrust Business Credit (WBC) is happy to announce the closing of a new $15,000,000 ABL line of credit for a Southeast-headquartered aerospace distribution business with subsidiaries from the Southwest to the Northeast. The Company supplies fasteners and other products to tier-1 suppliers and aerospace OEMs domestically and abroad. Management made their first investment into the new platform in late 2021 with a strategic plan to acquire similarly positioned companies and become a formidable player in their industry. Two additional acquisitions were made during 2023. As a result, the Company needed to consolidate and increase the size of its line of credit to assist with its growing working capital financing needs. Wintrust provided a line supporting the Company today and for the next several years.

According to Andy Hall, WBC’s National Portfolio Manager, “This management team is second to none; they’re in the early stages of executing a well-developed strategy. We look forward to supporting organic growth and acquisitions and have provided a working capital facility to expand operations for years to come seamlessly.”  WBC’s SVP of Business Development, Joe Panico, added, “WBC’s nimbleness and commitment to supporting our client’s growth plan was paramount to winning this relationship. Our new client values our partnership in their expansion strategy. The provided structure puts them at a strong competitive advantage to quickly advance their position within their industry.” 

For more information, please contact Joe Panico at 908-892-7874 or jpanico@wintrust.com.

About Wintrust Business Credit

Wintrust Business Credit is a division of Wintrust Bank N.A.  WBC provides asset based, working capital lines of credit, and term loans from $10,000,000 to $100,000,000, for middle market companies around the country who want to maximize their borrowing capacity to meet current and future liquidity needs with a flexible and cost-effective structure.

About Wintrust

Wintrust Financial Corporation is a financial holding company with assets of approximately $56 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges. Visit wintrust.com for more information.